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CEO: Mutua Madrileña-BCI deal to close in coming weeks

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CEO: Mutua Madrileña-BCI deal to close in coming weeks

Mutua MadrileñaAutomovilista's CEO, Ignacio Garralda, said that the company's plannedacquisition of a 40% stakein Banco de Credito e InversionesSA's insurance units BCISeguros Generales S.A., BCISeguros Vida S.A. and Zenit Seguros Generales will be completed in thecoming weeks, El País reported April 4.

Garralda reinforced the company's plans to seek acquisition opportunitiesthroughout Latin America and Spain taking advantage of its 300% solvency ratio,even though the executive noted that the company will be "cautious" whenseeking new deals, the report said. Garralda mentioned Colombia, Peru and Mexicoas areas of interest for potential expansion in Latin America.